Paloma Co, has four employees. FICA Social Security taxes are 62% of the first $128,400 paid to each employee, and FICA Medicare taxes are 145% of gross pay. Also for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4% The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees Current Week Gross Pay "Income Tax tane through Aug. 18 Gross Pay Withholding Dali $124,800 $5,000 $ 469 Trey 126,000 2,400 354 Kesha 8,400 2,000 50 Chee 2,350 1,400 40 In addition to gross pay the company must pay one-half of the $86 per employee weekly health insurance: each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund Kiesha Trey Chee Total 7) Each Employee's Net (take-home) Pay Employee Dali Gross Pay $ 5,000.00 $ Income tax withholding 469.00 FICA - Social Security 223.20 FICA - Medicare 72 50 Health Insurance 43.00 2.400.00 $ 354 00 2,000.00 $ 50.00 1,400.00 $ 10,800.00 40.00 913.00 88.80 58280 148 80 124.00 29.00 34 80 20.30 156.60 43.00 43.00 . 172.00 43.00 $ 0.00 Net Pay Chee Total 1,400.00 $ 10,800 00 86.80 582.80 156 60 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 5,000.00 $ 2,400.00 $ 2,000.00 $ FICA-Social Security 223.20 148 80 124 00 FICA - Medicare 72.50 34.80 29.00 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance 43.00 43.00 43.00 Pension Total Payroll Expense $ 5,338 70 $ 2,626 60 $ 2,196.00 $ 20.30 8.40 8.40 75.60 75 60 43.00 172.00 0.00 1 634 10 $ 11,795.40 Prey 1 of 1 Next